Animoca Brands Raises $31.88 Million for Mocaverse Project: Empowering Web3 Culture and Gaming

Animoca Brands, a well-known metaverse investor and blockchain game publisher, has successfully raised an additional $11.88 million for its metaverse project, Mocaverse. This recent funding comes after Animoca Brands had already secured $20 million for Mocaverse back in September. With this new injection of capital, the Hong Kong-based company has now accumulated a total of $31.88 million to further develop its digital identity and loyalty platform for blockchain games and other applications.

To kickstart the Mocaverse project, Animoca Brands has introduced 8,888 Ethereum NFTs profile pictures, also known as PFPs. These serve as an entry pass into the Mocaverse and provide participants with exclusive access. The latest round of funding for Mocaverse saw participation from prominent blockchain investment firms such as Block1, OKX Ventures, Foresight Ventures, and Polygon Ventures, as well as NBA Top Shot creator Dapper Labs. In addition to issuing new shares at $4.50 apiece, Animoca Brands also granted utility token warrants to its investors.

The Mocaverse project aims to act as an empowerment layer for Web3 culture and entertainment, according to Animoca Brands. It plans to facilitate onboarding and growth for other Web3 platforms through features like digital identity profiles and loyalty points called Realm Points. Notably, major game publisher Ubisoft recently announced its collaboration with Mocaverse for the upcoming Champions Tactics: Grimoria Chronicles NFT game on the Oasys blockchain.

Initially, the Mocaverse ecosystem will encompass Animoca Brands' extensive investment portfolio, which includes over 400 companies. However, the company has plans to expand its reach in the future by incorporating other Web3 projects over time. This expansion will not only allow Animoca Brands to connect with those closest to them but also facilitate connections within their ecosystem.

In an interview with Decrypt in September, Animoca Brands CEO Robby Yung expressed the significance of Mocaverse, stating that it provides a means for the company to engage with its community while also fostering connections within the broader ecosystem. With the recent funding and partnerships, Animoca Brands is well-positioned to advance the development of Mocaverse and contribute to the growth of the metaverse and blockchain gaming industry as a whole.